EP Infrastructure Group 2017 consolidated results
11. 4. 2018
- EBITDA¹: EUR 1 509 million (EUR 1 393 million in 2016, +8%)
- Cash generation²: EUR 1 364 million (EUR 1 200 million in 2016, +14%)
- Sales: EUR 3 104 million (EUR 3 124 million in 2016, -1%)
Today EP Infrastructure (“EPIF”) Group, a leading European energy infrastructure utility focused on gas transmission, gas, power and heat distribution and gas storage, reported excellent 2017 financial results.
The results confirmed the quality and resilience of the group’s operated assets, the majority of which are regulated and / or long term contracted.
The consolidated EBITDA for 2017 was EUR 1 509 million, the year-on-year increase being greater than EUR 100 million. Cash generation of the group increased to EUR 1 364 million, reflecting EPIF’s continued excellence at converting operating profit into free cash flow.
We are also very pleased to confirm that in early 2018 the EPIF Group has been awarded investment grade ratings from rating agencies Moody´s Investors Service (Baa3), Fitch Ratings (BBB-) and S&P Global Ratings (Preliminary BBB), all with a stable outlook.
Key operating data of EPIF Group in 2017 include: close to 65 bcm of gas transmitted (an increase of 7% year-on-year), almost 5 bcm of gas distributed, more than 6 TWh of electricity distributed (an increase of 5% year-on-year at both), and over 22 PJ of heat delivered (an increase of 2%, adjusting for the sale of non-strategic heat industry assets in 2016). In addition almost all or the group’s natural gas storage capacity of 41 TWh was utilized in 2017.
At the beginning of 2017, the parent company Energetický a průmyslový holding concluded an agreement on the sale of a 31% interest in EPIF Group with a consortium of global institutional investors managed and represented by Macquarie Infrastructure and Real Assets. The EPIF Group is extremely positive with regards to the opportunities both shareholders can bring in the years ahead.